Present value interest factor

In economics, Present value interest factor, also known by the acronym PVIF, is used in finance theory to refer to the output of a calculation, used to determine the monthly payment needed to repay a loan. The calculation involves a number of variables, which are set out in the following description of the calculation:

Formula
Let:
 * $$W$$ = the amount borrowed
 * $$i$$ = the effective (ie convertible annually) annual interest rate charged
 * $$n$$ = the number of years over which the loan will be outstanding
 * $$A$$ = the annual amount of the fixed regular payments that will amortize (i.e. repay) the loan
 * $$m$$ = the frequency of these regular payments, e.g. m = 2 means the payments are half-yearly.

Then:

A = W / PVIFA

where PVIFA = $1/m$ × (1−(1+i)^(−n))÷((1+i)^($1/m$)−1)